Wednesday, December 07, 2016

Price of gold skyrockets in India after currency ban...

(...)

Several petitions in various courts across India were immediately filed against the central bank, the Reserve Bank of India (RBI), for repudiating its IOU obligation which the currency bills represent, after Modi’s announcement on 8th November.

Several postponements later, the first hearing at the Supreme Court will likely take place on 5th December 2016, almost a month after the announcement of the ban. That does not mean that the court did not deliberate over “more important issues” affecting this wretched poor country.

It inter alia heard a petition and passed a judgment that makes playing the national anthem compulsory at cinema halls before the start of every movie, to promote nationalism. It also decreed that people have to stand up while the anthem is played. Henceforth one can be charged with sedition for not actively showing proper respect to the flag and the anthem.

Only someone very numb can avoid being horrified by this. Full story...

Related posts:
  1. India's Modi calls for move towards cashless society...
  2. What do the cash queues tell us about India?
  3. India cinemas ordered to play national anthem
  4. India's currency debacle...
  5. India wants people to turn in their gold...
  6. In booming India, all that glitters is gold...

No comments:

Post a Comment